86 episodes

The world of finance has a huge impact on all of us. This show aims to explore and unravel some of the mysteries surrounding the investing business. The Money Maze Podcast has been created by two industry veterans. Through direct, entertaining and insightful interviews with masters of the real life money maze, we hope to learn about different approaches to allocating capital, making investment and business decisions, and navigating the pitfalls that line the paths to prosperity. Whether you're a current or aspiring investment professional, a regular investor, or a student exploring career options, we hope you gain some helpful insights and enjoy the shows. Thank you for listening!

The Money Maze Podcast Simon Brewer and Will Campion

    • Business
    • 4.9 • 133 Ratings

The world of finance has a huge impact on all of us. This show aims to explore and unravel some of the mysteries surrounding the investing business. The Money Maze Podcast has been created by two industry veterans. Through direct, entertaining and insightful interviews with masters of the real life money maze, we hope to learn about different approaches to allocating capital, making investment and business decisions, and navigating the pitfalls that line the paths to prosperity. Whether you're a current or aspiring investment professional, a regular investor, or a student exploring career options, we hope you gain some helpful insights and enjoy the shows. Thank you for listening!

    Perspectives on Private Equity and the World of the Consumer - With Tara Alhadeff, Partner at Permira

    Perspectives on Private Equity and the World of the Consumer - With Tara Alhadeff, Partner at Permira

    In the second of our series on private equity, we are going to discuss one of Europe’s premier operators. Established as Schroder Ventures 35 years ago, the firm evolved into Permira in 1997. Today they have more than €60bn under management, employ over 450 people and operate in 16 offices worldwide.
    Permira has backed over 300 businesses; many of them, like Hugo Boss, Dr. Martens and McAfee software, are household names.
    Tara Alhadeff, Partner responsible for brand strategy in the consumer space, discusses Permira’s approach, and in particular why ‘heritage brands need a different lens’ and ‘why, with heritage brands, magic can happen’.
    She discusses the examples of Dr. Martens and Golden Goose, both current investments, and references the past deals of Hugo Boss and Valentino.
    Tara talks about the need for long-term custody of great brands and why in some cases the size of the brand is bigger than the size of the business. She also discusses the importance of management, the relationship between Permira and portfolio companies, and how they think about exits.
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    The Money Maze Podcast is sponsored by Schroders, Bremont Watches, LiveTrade and Mintus.

    • 42 min
    Exploring Goldman Sachs’s Listed Private Equity Vehicle, Petershill Partners – With Robert Hamilton Kelly, Managing Director

    Exploring Goldman Sachs’s Listed Private Equity Vehicle, Petershill Partners – With Robert Hamilton Kelly, Managing Director

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    In this Private Equity Miniseries, we examine why P.E. has grown to become such a significant artery in both the investment world and wider economy.
    We discuss if this growth is secular, and an investment environment which continues to lead to rethinks of asset classes available for investors.
    In this episode, I am delighted to speak to Robert Hamilton Kelly, Global Co-Head of Petershill Partners (part of Goldman Sachs Asset Management). They have raised over $10bn of P.E. capital since 2007, investing in private equity and alternatives businesses at the GP level.
    Robert explains how and why Petershill own their investments and the characteristics they seek. He speaks about their approach to partnering with firms and the mutual benefits that develop, whilst also explaining the value of permanent capital.
    He talks about some of their transactions, their decision to list in London, how investors have assessed the valuation case and why he is excited by the long term opportunities he believes are available through their approach.
     
    The Money Maze Podcast is sponsored by Schroders, Bremont Watches and LiveTrade.
     
    Schroders is a global investment and wealth manager, with a purpose to provide excellent investment performance to clients, through active investment management.
    Bremont is an award-winning British company that produces beautifully engineered chronometers, designed to appeal to those who share the appreciation of a beautiful mechanical wristwatch.
    LiveTrade has changed the way fine wine is bought and sold worldwide. You can instantly buy and sell - or place bids and offers on - key wines from Bordeaux, Champagne, Italy and other world regions.
     
     

    • 46 min
    £1.4 Trillion in Assets, £2 Billion of Profit: Sir Nigel Wilson, CEO of Legal and General, Explains The Opportunities Ahead

    £1.4 Trillion in Assets, £2 Billion of Profit: Sir Nigel Wilson, CEO of Legal and General, Explains The Opportunities Ahead

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    In an investing world where the “new thing” can too easily grab investor attention, sometimes it’s the case that an institution, especially one almost 200 years old, may be considered less relevant.
     
    So in this episode we welcome on Sir Nigel Wilson, one of the longest serving FTSE 100 CEOs. He was knighted for his contributions to finance & regional development, and for running the 2nd largest institutional asset manager in Europe.
     
    Sir Nigel Wilson discusses the business today, and how it has evolved. He explains their asset management and asset origination, marrying long-term capital with a strategic vision. He also covers their investments in key areas of infrastructure, housing, and the growing pension risk transfer market.
     
    He goes on to explain their approach to inclusive capitalism, their expansion overseas, how the market views their valuation, the stock’s important yield and why he has had such long tenure as a CEO.
     
    The Money Maze Podcast is sponsored by Schroders, Bremont Watches and LiveTrade.
     
    Schroders is a global investment and wealth manager, with a purpose to provide excellent investment performance to clients, through active investment management.
     
    Bremont is an award-winning British company that produces beautifully engineered chronometers, designed to appeal to those who share the appreciation of a beautiful mechanical wristwatch.
     
    LiveTrade has changed the way fine wine is bought and sold worldwide. You can instantly buy and sell - or place bids and offers on - key wines from Bordeaux, Champagne, Italy and other world regions.

    • 32 min
    Karen Karniol-Tambour, Co-Chief Investment Officer for Sustainability at Bridgewater, the $160 Billion Hedge Fund, on Today’s Economic Landscape

    Karen Karniol-Tambour, Co-Chief Investment Officer for Sustainability at Bridgewater, the $160 Billion Hedge Fund, on Today’s Economic Landscape

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    Ray Dalio has described today’s guest, “as a vacuum cleaner of learning”, and in this episode Karen Karniol-Tambour exhibits a formidable grasp of the challenges of today’s investing environment.
     
    The conversation begins with a review of the current monetary challenge facing the Fed and leads into the dilemma for investors weaned on variations of the 60/40 benchmark.
     
    She explains Bridgewater’s enthusiasm for inflation protection, for owning important exposure to broad commodities, through to the role gold should play. At the same time she explains succinctly why US equities might be the worst performing asset class in the decade ahead.
     
    She discusses why currencies could be an important source of return in a world of lacklustre performance, in a re-visit of the 1970s and 1980s.
     
    Karen finally explains how Bridgewater think about the systematic and fundamental way of approaching sustainable investing, as well as the sustainable fund that they have developed.
     
    The Money Maze Podcast is sponsored by Schroders, Bremont Watches and LiveTrade.
     
    Schroders is a global investment and wealth manager, with a purpose to provide excellent investment performance to clients, through active investment management.
     
    Bremont is an award-winning British company that produces beautifully engineered chronometers, designed to appeal to those who share the appreciation of a beautiful mechanical wristwatch.
     
    LiveTrade has changed the way fine wine is bought and sold worldwide. You can instantly buy and sell - or place bids and offers on - key wines from Bordeaux, Champagne, Italy and other world regions.
     

    • 50 min
    Wine - To Invest or Consume? Gary Boom, Founder & CEO of Bordeaux Index [REPLAY]

    Wine - To Invest or Consume? Gary Boom, Founder & CEO of Bordeaux Index [REPLAY]

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    To celebrate our new sponsorship with LiveTrade, Bordeaux Index's new world-leading fine wine trading platform, we're pleased to be replaying our episode with Gary Boom. Originally recorded last summer, he discusses why he started the business and examines the investment opportunities in the fine wine and spirits market. 
     
    In this episode Gary Boom, CEO of Bordeaux Index starts by explaining how the poorly organised, past its sell-by- date old model of wine trading has been revolutionised by Bordeaux Index over the last 20 years, with the introduction of scale, liquidity and expertise underscoring the investment attributes of fine wines and whiskies.
     
    The conversation examines long term data provided by Credit Suisse who found that post-World War Two, collectible wines have delivered returns of circa 10% nominal, and real returns of around 7% USD (per annum) . Gary discusses the composition of returns and the indices used to measure them, and explains why consumption creates a virtuous circle, where replacement and scarcity provide strong tailwinds. He talks about the liquidity provided by Live Trade, which they established and which provides narrow bid/ask spreads in over 500 wines.
     
    He talks about the Chinese influence in buying high-end Bordeaux wines, the Champagne and Burgundy markets’ evolution as well as how challenges around counterfeiting are being met.
     
    With reference to the late Stephen Spurrier, he discusses the rise of some of the great new world wines which wines he believes will prove good investments and how family offices and wealthy individuals can build significant portfolios of wine to take advantage of its lower correlation to other assets.
     
    He speaks about climate impact on wine producing regions, his gloomy view on UK wines and why Bollinger Group has taken a stake in their business.
     
    Finally he talks about why wine has proved and continues to be a great career for both sexes, some advice for today’s youth, and whose wines and their owners he would most like to meet and drink.

    • 50 min
    Michael Lewis: Bestselling Author of 'The Big Short', 'Liar's Poker' and 'Moneyball'

    Michael Lewis: Bestselling Author of 'The Big Short', 'Liar's Poker' and 'Moneyball'

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    Today we have a different conversation. Michael Lewis and Simon Brewer go back to graduating from the LSE in 1985, when they were both seeking a place on the fabled Salomon Brothers training programme. Michael’s success in securing that job allowed the world to have the enduring classic, ‘Liar’s Poker’, and from there to write 16 best sellers (three of which have been made into major Hollywood films).
     
    His new book, ‘Premonition: A Pandemic Story’, tells the enthralling tale of the US pandemic preparations that started under President Bush, but which failed when COVID-19 struck, thanks to a mixture of institutional and political failings.
     
    Michael brings the cumulative missteps to life by narrating the story of the real people involved, their extraordinary decisions, and what went wrong.
     
    He continues this fascinating conversation by discussing two of his other books, ‘The Undoing Project’, and ‘Moneyball’, and explains how decision making is driven by varying degrees of data and/or human interactions - from sport to finance – resulting in unpredictable consequences.
     
    The Money Maze Podcast is sponsored by Schroders, LiveTrade and Bremont Watches.
     
    Schroders is a global investment and wealth manager, with a purpose to provide excellent investment performance to clients, through active investment management.
     
    Bremont is an award-winning British company that produces beautifully engineered chronometers, designed to appeal to those who share the appreciation of a beautiful mechanical wristwatch.
     
    LiveTrade has changed the way fine wine is bought and sold worldwide. You can instantly buy and sell - or place bids and offers on - key wines from Bordeaux, Champagne, Italy and other world regions.
     
     

    • 57 min

Customer Reviews

4.9 out of 5
133 Ratings

133 Ratings

Britpop2008 ,

👏👏 Essential listening

This fantastic series covers a broad range of topics and makes complex areas easier to comprehend. The Money Maze demystifies the business of investing and offers the listener accessible and easy-to-digest insights. Highly recommended.

Gulvain1 ,

Interesting but host in thrall of interviewees

Interviews invariably with highly accomplished, overachieving MBAs managing endowment/hedge funds etc. Good sound quality and topics can be interesting. However, the slightly forced smooth drawl of the host can grate, and he seems completely in thrall to the guests, rarely challenging the often staid complacent nature of the fund management industry. Despite all their degrees and ‘cleverness’, most fail to beat simple index benchmarks yet justify their extortionate fees to their complacent investors by over-complicating what should be a simple process. Asset allocation should not be hard, yet if you listen to this podcast with ‘real life masters of the money world’ you’d think it was a black art best left only to Harvard MBA types

CJ Sparse ,

Engaging and Refreshing

Amazing show. The guests have been from a variety of sectors and refreshing perspectives with every single one. Simon knows how to ask the right questions that allow the conversation to flow in a very financial approach. I like how it ends with inspiring the listeners to pursue their truths as told by the guests.

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